CATCH-UP a new bookkeeping client

With a new bookkeeping client, you'll often need to spend some time catching up their QuickBooks file to the current date. In this video I talk about how to familiarize yourself with the books and figure out what date to start. Then, start and organize your catch-up work, and make a plan going forward on how to do the bookkeeping quickly and efficiently.
Videos mentioned:
How to do a clean-up on messy books: • How to do a "CLEAN-UP"...
Key Performance Indicators: • KPIs for your bookkeep...
Veronica Wasek classes:
Paid Diagnostic Review: courses.5mbaca...
Colossal cleanup checklist: courses.5mbaca...
Complete QBO cleanup system: courses.5mbaca...
My website: www.finepoints...
☑️My favorite bookkeeper training (affiliate links)
💜Bookkeeper Launch free series: sk293.isrefer....
💜Bookkeeper Launch FAQs: sk293.isrefer....
💜Bookkeeper Launch checkout: sk293.isrefer....
☑️Classes taught by me
🟢How to start your business in 30 days (Bookkeeper Business Coach): finepoints.new...
🟢How to get clients (Bookkeeper Marketing Coach): finepoints.new...
☑️Free stuff
➡Is bookkeeping right for me? (free masterclass): finepoints.new...
➡How I got my first 3 CLIENTS (free masterclass): finepoints.new...
➡Start a bookkeeping business (free checklist) finepoints.new...
➡LEARN bookkeeping (my favorite training options): finepoints.new...
➡Where to start bookkeeping (chart): finepoints.new...
➡Tax Biz (free intro class on taxes): sk293.isrefer....
➡More freebies on my website: www.finepoints...
➡ Please SUBSCRIBE! / @finepointsbookkeeping
☑️Pass the ProAdvisor Test: Fast and Easy QBO (affiliate links)
For Basic (code "finepoints" for discount): www.fastandeas...
For Advanced (code "finepoints" for discount): www.fastandeas...
☑️Other awesome classes (affiliate links)
Booming Bookkeeping: www.boomingboo...
Nerd Enterprises: www.nerdenterp...
5 Minute Bookkeeping: courses.5mbaca...
▶My Bookkeeping Tech Tools: www.finepoints...
▶ Videos to get started bookkeeping:
Learn bookkeeping: • 10 ways to LEARN bookk...
Bookkeeper certification for FREE: • FREE ProAdvisor certif...
How to become a bookkeeper (with chart): • How to become a BOOKKE...
How to get clients: • 20 ways to get bookkee...
What does a bookkeeper do? • WHAT DOES A BOOKKEEPER...
Day in the life playlist: • "Day in the life" of a...
Bookkeeper Launch video: • 10 FIRST IMPRESSIONS o...
Client onboarding: • One Client, START TO F...
How much to charge: • HOW MUCH to charge as ...
Services to offer: • BEGINNER services to o...
▶ More videos you'll like:
Big, medium & small clients: • CLIENT EXAMPLES: Small...
Niches playlist: • Niches for bookkeepers
Before you start: • Bookkeepers: 7 THINGS ...
Impostor syndrome for bookkeepers: • How to overcome IMPOST...
10 reasons to start bookkeeping: • WHY START BOOKKEEPING?
How to clean up a client's books: • How to do a "CLEAN-UP"...
#bookkeeper #finepoints #bookkeeping

[@normaechavarria4589]

You are so knowledgeable! I love the way you explain everything so good. Thank you for sharing your knowledge!

[@FinePointsBookkeeping]

I appreciate that!

[@lorip1435]

A lot of great information here. You are a great mentor. Thank you. 🧡

[@FinePointsBookkeeping]

We are glad it was helpful! Krista (FinePoints Admin)

[@rosadiaz-callender9653]

I've been searching for a video detailing just this topic. Thank you!

[@FinePointsBookkeeping]

No problem!

[@wazup80]

Thank you for such clear explanations and sharing your approach. Great videos! 👍

[@FinePointsBookkeeping]

Glad it was helpful!

[@dermann2421]

Great video and lots of POSITIVE +VE Energy in this video. Learned a lot. Thank you Beaucoup 👍

[@donnacunningham9633]

This is a great video Morgan....thanks for your content that makes things easier to understand :)

[@FinePointsBookkeeping]

Happy to help!

[@DreamFirms]

Thanks for sharing. Keep doing the great work.

[@FinePointsBookkeeping]

Thanks Tyler!

[@AdelinaHaskin]

You are do awesome! Thank you for making these videos, they are super helpful! Do you do coaching?

[@FinePointsBookkeeping]

Hey! Morgan is happy to hear that you are enjoying her videos. Morgan doesn't do 1:1 coaching, but she has partnered with Bookkeeping and QuickBooks expert Rachel Barnett from Gentle Frog, LLC, who offers 1:1 consultation services in 15-min, 30-min, and 60-min increments. She comes highly recommended from Morgan and others who have worked with her. You can find out more details here, and if you use code MLAW, you’ll save 5% on any services you book: www.gentlefrog.com/services/quickbooks-training/ Krista (FinePoints Admin)

[@user-hd4vh6hf6o]

You gave the example if the client has 3 years' worth of bookkeeping but taxes have already been filed for the oldest 2 years, to just start with the 3rd year since a tax return hasn't been filed yet. How do you reconcile the bank accounts if you don't do the bookkeeping for those older 2 years?

[@nosiphodumakude9504]

Thank you so much for the video I have learnt a lot very helpful I have started to put things in place but the problem is marketing it is very hard to get clients.

[@FinePointsBookkeeping]

Hi Nosipho! I'm glad you have learned so much from Morgan's channel. Have you seen this video (kzbin.info/www/bejne/rGqVdXWBbsmVgqM) Morgan made on marketing? Krista (FinePoints Assistant)

[@nousheenmerchant2444]

Thank you for sharing your time and knowledge we truly appreciate. I have been following you and learning a lot. I feel now I’m at the stage where I can set up my own bookkeeping firm. Can you please guide us how to market and what we need and how to price. Im also a certified enrolled agent. Thank you

[@FinePointsBookkeeping]

Morgan has a couple of videos on marketing and pricing that can help you with this! Marketing: kzbin.info/www/bejne/d2STgmxvnJedgMk How much to charge: kzbin.info/www/bejne/qp6QdqJpqdCYZqc Hope this helps! Krista (FinePoints Admin)

[@SilviaArrambide]

I love your videos! ❤ thanks for all the value you give us ☺️ Can you recommend me a book to learn more about bookkeeping… ?

[@user-rb1ms2rp6p]

This is really helpful! I'm pretty new to all this and learning QBO and general accounting principles/skills, but I kept thinking "so when I get a client...... what do I do?"

[@FinePointsBookkeeping]

Glad it was helpful! Krista (FinePoints Admin)

[@nezamsohel467]

nice presentation

[@FinePointsBookkeeping]

Thanks so much for watching!

[@jogarcia6710]

Just started following you, quick question I’m using QB Desktop and I have lingering post that have never cleared but I am able to reconcile, because the post were not actually process. My question is, can I just delete them? There are from previous year(s). Thank you. I love your videos, can’t wait to learn more as I transition into QBO.

[@AyeAyeMusic]

Thanks for the great video. I got a lot from it. I had a question about what tax year to file if you are catching a client up. I've had this situation a few times in the last few months and I thought to start at the earliest year since there is penalties and interest if they owe taxes. Also, if the client is a corporation, you would need the previous tax year info to do the following year taxes. Curious to hear your thoughts on this method. Thanks

[@frugalnfine]

What if you’re starting with fresh QB as they haven’t been in it in the past, but you have the past tax return. Any videos on setting them up fresh and then doing the clean up work

[@FinePointsBookkeeping]

Hi! Morgan does not currently have a video on how to set up a new client in QBO, but I'll let her know it is something you are interested in! Krista (FinePoints Assistant)

[@abbymcgrath6998]

Do you have any advice for if a client used their personal bank account for nearly a year, and now need you to catch them up? I’m not sure how to go about it. Thank you!

[@orianamartinez5173]

Thanks for the video, really useful information as I am starting my bookkeeping firm, one recommendation that I would like to have from you is if our client already has a QuickBooks online account, should we work on the client's account or should we have our own account (either desktop or online) and work from there?

[@FinePointsBookkeeping]

You should use QuickBooks Online Accountant, and they can send you an invite from their account so that they are connected (then, you'd log in to your dashboard and see them listed with all of your clients). I haven't done this in a couple years, so I don't remember the exact steps, but basically, you can connect in to their existing account.

[@richieespanta3805]

Hi Morgan. My client has never filed taxes since start of business in 2017 and has never had any bookkeeping done. Should I start settting up books 2017 and then catch up work? Or should I start at the latest year? Would IRS be questioning her profits in the previous years?

[@PD-iu9bn]

I would touch base with their accountant. If they have back taxes due that would be the first priority. If they don’t have an accountant they need one. So first thing is to have them hire an accountant.

[@livscreativeescapes6523]

Great video! Question: I have a client that uses a PayPal card because there is a cash back program. The problem is if I link the PayPal account it doubles transactions (showing where the money moved out of PayPal then out of the bank account). If I don't link the PayPal I miss some transactions because if they received money via PayPal then use the PayPal card it uses the PayPal balance first. They use Zettle for in person sales.

[@bribbitbribbitbribbit]

ff

[@FinePointsBookkeeping]

Oh man, I don't have any brilliant solutions, but am here to commiserate that PayPal can be a PAIN as a bookkeeper. I had one client who used PayPal a few years ago I also found a lot of duplicate transactions and had to weed through many issues. I would suggest finding a bookkeeper (or group) that specializes or talks about this specifically. I'm sure there are some tricks to making it work, but I'm not sure what they are. If a client is flexible, I've actually convinced them to not use PayPal, or you could not hook up QBO to it, or at least charge accordingly for your troubles. :)

[@jenninemorel7693]

I have literally become the "QB/PayPal integration nightmare" master. After doing a handful of cleanups and back work (one company had over 6000 transactions, and yes, TONS of duplicate transactions. I had to do 3 years of bank recs and it literally was a nightmare. I now feel qualified for my hard earned title! I also have solutions for other 3PP integrations (Square, Stripe, Etsy, WooCommerce, Ebay, Amazon, Poshmark, Mercari, etc)

[@jenninemorel7693]

@@FinePointsBookkeeping 😊

[@TruthfulOnly]

Would of been helpful if you pulled up your screen

[@TheTrevorcapps]

Another Oregonian

[@FaithLight555]

If the business is incorporated, for tax purpose, CPA will also require a statement of cash flow.